hey doing guys so this video what I'm
gonna do I'm gonna call a potential
client I just got a message and in my
mind I was thinking you know maybe I
should share it with my friends on
Facebook and see if I can teach you
anything about how to sell and how to
get a client and and how to lock him
with you so you can actually make money
so let's give her a call her name is
Barbara I don't know her let's see what
Barbara has the same hi this is Barbara
Barbara good afternoon this is a Yanni
Roz I just got a message from you honey
how are you good I think I got one for
you this time the last time we talked
you know it wasn't well if you touch it
is but I have so we do so we do know
each other right yeah yeah I thought
that I don't know you some reason oh you
do okay great I'm hot real quick right
now sent to you but it is a purchase and
uh what's the purchase price I 5560 need
to 39 listed LTV take a look at the
email that I just sent you and then you
can review it call me back and tell me
what we can do okay so you just send me
an email one second let me refresh my
email here I didn't get I got one from
Patricia your Barbara and uh Patricia so
that's not you hey I don't have any
email for you so let me ask you a
question so they purchasing it for 550
and they're gonna put 25% down how long
do you need the money for Chuck say that
again
how long they need the money for I wish
look I'm gonna shoot for one year but if
you want to do a little more than I'll
work something else for you no longer
than two years
okay I just got your email by the way
thank you okay see her not longer than
two years right two years just a bag got
it it's the owner occupied or non-owner
occupied she is going to be an investor
okay where does she live
it's not her application I just closed
it out but let's really see if I can
open sucker I mean she is a person that
lives on she lives in Los Angeles and
the trash is no it's okay I have I have
dad RIS here I'm looking at the
application yes I see where is she yeah
I see where she lives
Hey okay so she's buying it for
investment she's gonna it's gonna be a
rental or it's gonna be a flip hey chief
I got the board the older while she's
trying to buy the owner out yeah got it
didn't end she's gonna flip it right
away
well she's looking for two years she's
gonna see how it works out but you know
two years is all she needs is it rented
right now yes it is for how much a
thousand three thousand a month yes
that's pretty good okay I can possibly
help you with the this loan just a
matter of checking out the appraisal and
taking a look at the older paperwork you
sent me I see that you send me a credit
I'm not really driven by credit are more
driven by the equity hey but let me take
a look at all the package I'll give you
a call back and then we possibly can
close this deal how fast do you need to
close it are you ready
hey I born ready Barbara right okay so
let me take a look at the all the
information I give you a call back good
Thank You Barbara bye-bye
okay so let's analyze this deal $558,000
purchase price twenty five percent down
it's kind of like okay but if I can get
good interest rate for this loan then
it's easier for me to sell it to my
investors because my investors of course
they want it they want the highest ROI
on their money and so that's what I'm
gonna do so now the second step is to
look at all the paperwork to look at the
appraisal I have the credit report I
really don't care for the credit but I
would like to look at the credit and
then I'm looking at the Kray just didn't
understand who I'm dealing with there's
a lot of times that it happened to me
that I opened the credit report and
suddenly I see IRS liens tax liens
foreclosures bankruptcies and I
personally don't deal with this you know
I rather have cleaner deals you know
someone that has short sales
foreclosures a long time ago that's fine
bankruptcy discharge bankruptcy a year
ago that's fine too but nothing current
I rather nothing current and so when
after I will do my due diligence I'll
give her a call back and if she like my
terms and I think my terms for 75% loan
to value is going to be at least 12%
rate and then around three points so if
she liked the terms I'm gonna close it
by next week all right we're back I just
looked at all the details the lady sent
me Barbara and I'm ready to give her a
call to give her the interest rate the
point and what we're going to offer her
and the issues going to accept the terms
I might kind of close in in the next few
days so let's give her a call
hi Barbara its Yanni Roz how are you
okay okay so I took a look at the
everything it looks fine just I I have
some questions about the the property
itself it's not on the market right no
it's a for chef I am there for sale by
owner yes God so they're related well
Mississippi he is a step-sister but he
is its if I even over this if it's blood
related or not but he sees a stepsister
and she wants to buy off the property
because he's going sideways and who's
gonna live in the property the same
person it's a kid it and you're already
but it's not the person that owns the
property right no the file that owes
about it does not live there here's what
I need from you I need to see a lease
agreement okay I need to see two months
bank statements from the borrower okay
now also I want to see a bank statement
from the the owner of the property right
now I just want to make sure the
deposits from the rents coming into the
bank every month so give me a couple of
months okay I want to make sure it's a
rental okay exam important but it's like
this
the gentleman is upside down so he has
being honest with you I have no doubt
that his bank statements are shot to
hell okay so so how is he getting paid
the property is behind I understand what
you're saying is it's a rental so it's
rented right it gets run to and I don't
know how you hear that to me I don't
know okay I mean I need to verify it
okay they're here that's let's verify
that first now I need to see the the
money that she's gonna put as a down
payment at 25 percent I want to see it
in her bank okay right okay
yes give me that let's go from there
anything of coming earlier if I'm asking
because I'm trying to see if I can help
her make this purchase is there any
equity credit that you can give because
he's willing to give her any credit
possible because he's moving out of the
country he's leaving you said that he's
upside down right yes he is he's selling
it he's selling it she says she will buy
it if it means upside down means you
need to buy it as a sword sell now well
I don't know exactly how it will be
purchased because it's a first sale by
owner so my question to you is that I'm
not sure I know that she has money I
don't know if she she needs help from
him to close it or what okay so I'm
asking those questions for my own nature
yeah so let me just let me tell you how
it's gonna work if it's upside down and
he wants to sell her the property he's
gonna have to go through the bank
through a short sale procedure and he's
not gonna be able to sell it just like
that because nobody's gonna forgive his
debt no no I don't think that that's not
what I'm saying
I asked you about whether or not he
could contribute toward the closing cost
that's all oh yeah of course you can why
not that's all I asked for no that's
funny no I'm asking Ketty a you know
contribute from his proceeds toward the
closing cost no okay yeah he can he can
do that that's not a problem
he'll accept that yeah is that right
yeah okay now if everything goes well we
can close the deal by next week okay now
what is the dollar amount that you will
accept from him
what do you mean no no this is like
first for me to tell and all that good
stuff questions they've asked me how
much would it be acceptable for him to
contribute toward the closing cost look
I'm a hard money lender
I'm not regulated by anyone I'm not a
conventional lender and the way the way
I'm looking at this deal right now
I want to get paid the points for the
investors and my company and we're going
to charge the interest rate the fees are
within the the points if you wants to
pay the points for the borrower which
stepsister whoever it is he can do that
I don't mind where the money comes from
as long as I know that the lady that's
purchasing the property she actually put
the money is the down payment so now
what can I charge on this and with the
fee so I'll know how much we're talking
about okay are you licensed agent yes
okay you can charge whatever you want
okay but I'm talking in terms of the
estimate cost from you and in the
estimate rate okay the rate is going to
be 12% leave the three points great
point is that it yeah okay no other fees
there is 1995 fee for attorney right to
draw the loan documents and that's it so
you can charge on top of the three
points whatever you want very good
so it's going to be a total of five two
for me and whatever I'm licensed so I
have no problem with that
okay now the escrow is already open at
current County escrow okay and the title
is already done with Chicago title okay
and the only thing we need is you to
approve it and we're looking forward
okay get me all the information I
requested and let's go from there okay
beautiful Thank You Barbara hey Mike
okay so first of all the first thing I
see there's a big issue here I'm not
sure exactly what's happening maybe
she's not explaining herself right or
maybe I just need to understand her but
from what I understand if they're upside
down it's gonna be a short sale if it's
going to be a short or going to be a
long process
because they're not even starting the
process yet they're not even the
beginning so I don't with my experience
I don't think it's a deal
you know she agreed to everything too
fast and normally what I recommend you
in business when someone agreed to
everything just too fast too quick maybe
it's not serious maybe it's not
knowledgeable something is wrong with
this deal you need a challenge in the
deal you need someone to try to tell you
listen I want better points I want
better rate look this is worth this much
I'm gonna buy for this much she didn't
say all that she was too relaxed
I don't know I'm not judgmental but I
have a lot of experience with this so
let's let's do em that I'm hopefully
gonna close it and you're just gonna
follow me and I'm gonna let you know in
the next week or so if I close the deal
but I'm almost sure that I'm not gonna
close this deal not because I can't
close the deal I will close the deal if
it's possible but because something is
going on with this deal which I'll know
next week after I'm gonna get all the
information from anyways good sharing
with you guys and hopefully I'll do this
video again let's see the reaction have
a good day guys